Is there an end to the growth of the online slot industry?
It seems like the online slots industry is going up, up, up and away as there’s no sign of stopping, with more online casinos than ever before filled to the brim with enticing content and vibrant and exciting slot games for players to sink their teeth into. The online gambling industry has seen unprecedented growth in recent years that has left even digital experts gobsmacked at its success. The online slot industry is shaping the way we spend our free time and the entire entertainment industry and the changes which are just around the corner could have an even bigger impact on the success and popularity of the online slot.
You only have to look at the last decade to get a clear picture of just how massive the growth of online slots has been - the sphere of online gaming has expanded hugely. At the end of 2016, the online gambling industry was worth around $41 billion and recent estimates, that figures looks like it should almost double and be worth approximately $80 billion at the close of 2020. This seems huge, when you think about how much internet traffic is derived from online casinos - which is a huge 11% - you can see why the sector has grown so much. There was new legislation in 2014 to regulate the online gambling industry to make it safer and fairer for players and since then the sector has skyrocketed, increasing by c.300%.
What have online slots become so popular?
Technology is the simple answer to this question as advancements in technology in recent years has proven to have a massive impact on the online gambling industry, especially slot game. The better technology is available, the more advanced and refined the slot experience becomes for players. Mobile play was a huge turning point for the industry as now more people choose to play slots on their mobile phones than any other device, quite simply because it’s convenient and delivers a brilliant experience via slot apps.
What does this mean for land-based casinos and non-remote gambling?
Many people make the presumption that because online casinos have online slots have become so popular that this is taking business away from land-based casinos and that people no longer bother with land-based slot machines. However, it’s really not that straightforward and thankfully for land-based casinos, they have also seen a huge growth in the last decade - with the exception of bingo halls which has seen a steady decline since players opt to play online bingo instead.
Both the online gambling industry and offline gambling industry have witnessed a huge growth in numbers and looking at the trends it would suggest that online gambling may be most appealing to not just players who haven’t gambled previously as an exciting and engaging hobby. It also shows that players who have played slots for years in land-based casinos are embracing new technologies and happy to try both online slots as well as frequenting their local casinos for a varying gambling experience